Civic Intelligence

Iitk Fund Inc.

990 • Fiscal year 2018 • EIN 81-2209935

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

Organization ProfileNot Applicable
62 William Street 2nd FloorNew York, NY 10005

(646) 418-5852

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

47th percentile

0.01x

Higher debt load relative to assets than 47% of similar nonprofits.

2018 filings • NTEE Q • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

44th percentile

0.00x

Higher debt load relative to revenue than 44% of similar nonprofits.

2018 filings • NTEE Q • $500k-$1M nonprofits • Source year 2018

Net Margin

91st percentile

40%

Higher net margin than 91% of similar nonprofits.

2018 filings • NTEE Q • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • NTEE Q • $500k-$1M nonprofits • Source year 2018

Asset Growth

92nd percentile

287%

Faster asset growth than 92% of similar nonprofits.

2018 filings • NTEE Q • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

6th percentile

-53%

Faster revenue growth than 6% of similar nonprofits.

2018 filings • NTEE Q • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$274,433

Up $203,545 (+287%) from 2017

Net Assets

Up

$272,199

Up $204,770 (+304%) from 2017

Liabilities

Down

$2,234

Down $1,225 (-35%) from 2017

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin91st percentile

Revenue

Down

$513,004

Down $588,958 (-53%) from 2017

Expenses

Down

$308,234

Down $746,311 (-71%) from 2017

Net Income

Up

$204,770

Up $157,353 (+332%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2016: $23,471Liabilities 2016: $3,4592016Assets 2017: $70,888Liabilities 2017: $3,459Net Assets 2017: $67,4292017Assets 2018: $274,433Liabilities 2018: $2,234Net Assets 2018: $272,1992018Assets 2019: $322,121Liabilities 2019: $2,234Net Assets 2019: $319,8872019Assets 2020: $251,680Liabilities 2020: $2,234Net Assets 2020: $249,4462020Assets 2021: $212,032Liabilities 2021: $2,234Net Assets 2021: $209,7982021Assets 2022: $166,019Liabilities 2022: $2,234Net Assets 2022: $163,7852022

Highlighted filing

2018

Assets$274,433
Liabilities$2,234
Net Assets$272,199
Open 2018 Filing

Operations Trend

Revenue Growth6th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2016: $74,533Expenses 2016: $54,521Net Income 2016: $20,0122016Revenue 2017: $1,101,962Expenses 2017: $1,054,545Net Income 2017: $47,4172017Revenue 2018: $513,004Expenses 2018: $308,234Net Income 2018: $204,7702018Revenue 2019: $714,295Expenses 2019: $663,607Net Income 2019: $50,6882019Revenue 2020: $506,984Expenses 2020: $577,425Net Income 2020: -$70,4412020Revenue 2021: $42,340Expenses 2021: $81,988Net Income 2021: -$39,6482021Revenue 2022: $4,722Expenses 2022: $50,735Net Income 2022: -$46,0132022

Highlighted filing

2018

Revenue$513,004
Expenses$308,234
Net Income$204,770
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$513,004
Mission and Program Overview

Mission

IITK Fund has been organized to provide charitable distributions to qualifying non-profit organizations

IITK Fund has been organized to provide charitable distributions to qualifying non-profit organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$19,862$264,283▲ $244,421
Savings and Temporary Cash Investments$51,026--
Loans From Officers Directors$3,459$2,234▼ $1,225
Total Assets$70,888$274,433▲ $203,545
Other Assets Total-$10,150-
Liabilities
Total Liabilities$3,459$2,234▼ $1,225
Net Assets / Fund Balance
Unrestricted Net Assets$67,429$272,199▲ $204,770
Total Net Assets Fund Balance$67,429$272,199▲ $204,770
Total Liabilities and Net Assets / Fund Balance$70,888$274,433▲ $203,545
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Sanjiv KhoslaPresident/Treasurer
BV PhaniDirector
Taranbir SinghDirector
Sripat PandeySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$513,002
Program Service Revenue
$0
Investment Income
$2
Other Revenue
$0
All Other Contributions
$513,002
Change in Net Assets
$204,770

Audited Revenue Reconciliation

Revenue per Audited Statements
$513,004
Total Revenue per Audited Statements
$513,004
Total Revenue per Form 990
$513,004
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$300,000
Other Expenses$8,234
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$300,000--$300,000
Fees for Services Accounting-$4,000-$4,000
Information Technology-$2,749-$2,749
Other Expenses-$1,485-$1,485
Total Functional Expenses$300,000$8,234$0$308,234

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$308,734
Expenses per Audited Statements$308,234
Total Expenses per Form 990$308,234
Expenses Not Reported on Form 990$500
International Activity

International Summary

Spending
$300,000

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaGrants to recipients located in India---$300,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$3,459$2,234▼ $1,225
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The organization reviews the 990 form at a board meeting prior to submitting to the IRS.”

Form 990, Part VI, Section B, Line 12C

“The organization enforced compliance with its conflict of interest policy by reviewing it at board meetings.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financials statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
IITK Fund Inc
EIN
81-2209935
Phone
6464185852
Address
62 William Street 2nd Floor, New York, NY 10005

Signing Officer

Name
Sanjiv Khosla
Title
PresidentTreasurer
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sanjiv Khosla
Formed
2016
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Foundation Group Inc
Address
1321 Murfreesboro Pike Ste 610, Nashville, TN 37217
Preparer
William G McRay
Phone
6153619445
Supplemental Narrative

Financial Statement Notes

XII 2D

“The organization uses cash basis accounting for the Form 990 filing and the audited financials are prepared in accrual basis in accordance to GAAP. The organization recorded the 2017 audit preparation fees of 2,500 in 2018. The audit recorded the 2018 audit preparation fees of 3,000 in the 2018 audit. This resulted in a 500 difference between the cash basis books and the accrual basis books.”

Raw XML Appendix364 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy2Grp/Desc0IITK Fund granted funds to the Opportunity School to enable the school to be able to provide educational programs for children in need in grades 1 through 8. These funds are also helping the Opporunity School to be able to offer progras up to the grade 10 in the near future. At this time, Opportunity School is currently provide programs for up to 300 children.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization uses cash basis accounting for the Form 990 filing and the audited financials are prepared in accrual basis in accordance to GAAP. The organization recorded the 2017 audit preparation fees of 2,500 in 2018. The audit recorded the 2018 audit preparation fees of 3,000 in the 2018 audit. This resulted in a 500 difference between the cash basis books and the accrual basis books.
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1Educational programs for grades 1 - 8
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization reviews the 990 form at a board meeting prior to submitting to the IRS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization makes its governing documents, conflict of interest policy, and financials statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt070888
IRS990/TotalAssetsEOYAmt0274433
IRS990/TotalAssetsGrp/BOYAmt070888
IRS990/TotalAssetsGrp/EOYAmt0274433
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0513002
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08234
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0300000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0308234
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03459
IRS990/TotalLiabilitiesEOYAmt02234
IRS990/TotalLiabilitiesGrp/BOYAmt03459
IRS990/TotalLiabilitiesGrp/EOYAmt02234
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt067429
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0272199
IRS990/TotalProgramServiceExpensesAmt0300000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0513004
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt070888
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0274433
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt067429
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0272199
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt062 William Street 2nd Floor
IRS990/USAddress/CityNm0New York
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010005
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0Not Applicable
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Sanjiv Khosla
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PresidentTreasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IITK Fund Inc
ReturnHeader/Filer/BusinessNameControlTxt0IITK
ReturnHeader/Filer/EIN0812209935
ReturnHeader/Filer/PhoneNum06464185852
ReturnHeader/Filer/USAddress/AddressLine1Txt062 William Street 2nd Floor
ReturnHeader/Filer/USAddress/CityNm0New York
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010005
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07377CDE7D592A90D10EA468E86AD2721955DB130
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07377CDE7D592A90D10EA468E86AD2721955DB130
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.149.108.5
ReturnHeader/FilingSecurityInformation/IPDt02019-11-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm002:05:50
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Foundation Group Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01321 Murfreesboro Pike Ste 610
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Nashville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037217
ReturnHeader/PreparerPersonGrp/PhoneNum06153619445
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0William G McRay
ReturnHeader/ReturnTs02019-11-15T11:46:18-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$274,433
Liabilities
$2,234
Net assets
$272,199
Revenue
$513,004
Expenses
$308,234
Net income
$204,770
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.16$0.00$0.05$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.21$0.00$0.21$0.04$0.08$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.51$0.58$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.32$0.00$0.32$0.71$0.66$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.51$0.31$0.20
2017Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$1.10$1.05$0.05
2016Summary only. Only limited summary data is available for this year.$0.02$0.00$0.07$0.05$0.02